8871: Finance in Microsoft Dynamics NAV 5.0
Microsoft Dynamics NAV Training Course for Sheffield, Leeds, Manchester and Yorkshire
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Effective and relevant training at a realistic price!
- Peter Loerns, IT Manager, Derby
Course Information
| Course Code | MS8871 (MOC8871) (M8871) |
| Fee | £925 (Exclusive of VAT) |
| Duration | Three Days |
| Delivery Format | Instructor-Led |
| Scheduled Dates: | Please Contact Us for Information |
Introduction
The three-day Finance in Microsoft Dynamics NAV 5.0 course explores the activities required to handle key financial functions within the organization such as the Cash Management, the management of VAT, Journal development and transactions, the General Ledger, and Receivables and Payables Management.
Audience
This course is intended for individuals on the implementation team, administrating or using the financial management functions in Microsoft Dynamics NAV 5.0. This audience typically includes individuals who are tasked with assessing a customer’s business needs and advising them on the use, configuration, and customization of the application.
It is also designed for customers wishing to learn the basic features and to develop a working knowledge of the typical day-to-day procedures required to effectively use Finance in Microsoft Dynamics NAV 5.0 activities.
Additionally, individuals responsible for training or supporting Microsoft Dynamics NAV 5.0 benefit from the course.
Completion
The goal of this course is to enable students to identify, describe, and use basic Microsoft Dynamics NAV features:
- Maintain and work with the General Ledger
- Process a bank reconciliation
- Use Journals and Batches
- Understand Receivables Management
- Understand Payables Management
- Setup and work with Multicurrency
- Perform standard end of year financial closing operations
Prequisites
- Introduction to Microsoft Dynamics NAV 5.0
- General knowledge of Microsoft Windows
- Basic knowledge of accounting principles and procedures
Examinations
No Microsoft Certified Professional exams are associated with this course currently.
Materials
The student kit includes a comprehensive workbook and other necessary materials for this class.
Course Outline
Introduction
Lesson
- Structure of the Finance in Microsoft Dynamics NAV 5.0 course
The goal of this chapter is to enable students to:
- Understand the purpose of the Finance in Microsoft Dynamics NAV 5.0 course
- Understand class guidelines and details
Chapter 1: Financial Management Setup
Lessons
- General Ledger Setup
- Accounting Periods
- Trail Codes, including Source Codes and Reason Codes
Lab
- Lab - Create a Fiscal Year
The goal of this chapter is to enable students to:
- Understand the General Ledger Setup card
- Understand and work with accounting periods
- Navigate the audit trail
Chapter 2: General Ledger
Lessons
- Chart of Accounts
- Chart of Accounts Card
- General Ledger Budgets
Lab
- Lab - Create a Revenue Account
- Lab - Create a VAT Account
- Lab - Create a Budget
- Lab - Copy a Budget
- Lab - Export and Import a Budget
The goal of this chapter is to enable students to:
- Understand and maintain the chart of accounts
- Understand the General Ledger Setup card
- Set up and work with budgets
- Copy and export budgets
Chapter 3: General Journals
Lessons
- Journal Overview
- Journal Templates
- Journal Batches
- Journal Lines
- Creating and Posting Journal Entries
- Recurring Journals
- Reversals and Corrections
Lab
- Lab - Create a Journal Entry
- Lab - Create and Post a Recurring Journal
- Lab - Create and Post a Recurring Journal Using the Balance Method
The goal of this chapter is to enable students to:
- Understand the structure of journals, batches, and lines
- Create a journal template
- Create a journal batch
- Create and post journal entries
- Understand and use recurring journals
- Use general journals to post corrections
Chapter 4: Cash Management
Lessons
- Bank Account Card Overview
- Create a Bank Account
- Entering and Posting Receivables Payments
- Demonstration: Enter a Cash Receipt Payment
- Entering and Posting Payables Checks
- Demonstration - Post Manual Checks
- Demonstration - Suggest Vendor Payments for Local Vendors
- Financially Voiding Checks
- Bank Reconciliation
- Demonstration - Complete a Bank Reconciliation
Lab
- Lab - Create a Bank Account
- Lab - Apply and Post Cash Receipts
- Lab - Enter and Post Manual Checks
- Lab - Suggest Vendor Payments for a Single Vendor
- Lab - Financially Void a Check
The goal of this chapter is to enable students to:
- Set up new bank accounts
- Enter and post payments
- Suggest vendor payments
- Reconcile a bank account
Chapter 5: Receivables Management
Lessons
- Customer Card and Receivables
- Cash Receipt Journals Overview
- Applying Cash Receipt Payments
- Demonstration - Applying Entries After Posting
- Unapply Customer Ledger Entries
- Reversal of Posted Journals
- Set up Payment Discounts
- Process Payment Discounts
- Demonstration - Posting Partial Payments with Discounts
- Demonstration - Add Discounts After Posting Sales Transactions
- Demonstration - Apply Posted Payments to Sales Documents with Discounts
- Set up Payment Tolerance
- Demonstration - Set up Payment Tolerance
- Process Payment Tolerance
- Demonstration - Discount Taken Past the Discount Date
- Demonstration - Discount Calculated Incorrectly
- Demonstration - Erroneous Totaling of Two Invoices
- Reminders and Finance Charge Memos
- Set up and Assign Reminder Terms
- Demonstration - Create a Reminder Term
- Create and Issue Reminders
- Demonstration - Create Reminders Automatically
- Set up and Assign Finance Charge Items
- Create and Issue Finance Charge Memos
- Demonstration - Create Reminders Automatically
- Create Finance Charge Memos Automatically
- Analyzing Receivables
Lab
- Lab - Apply and Post a Cash Receipt
- Lab - Applying a Payment After Posting
- Lab - Unapply Posted Ledger Entries
- Lab - Reverse a Posted Journal Entry
- Lab - Post a Payment with a Discount
- Lab - Apply Posted Partial Payments with Discounts
- Lab - Set up a Payment Tolerance
- Lab - Process a Payment Tolerance
- Lab - Set up a Reminder Term
- Lab - Create and Issue Reminders
- Lab - Set up a Finance Charge Term
- Lab - Create and Issue Finance Charge Memos
The goal of this chapter is to enable students to:
- Understand detailed customer ledger entries
- Analyze receivables accounts
- Use the Cash Receipts journal to apply cash
- Understand how to handle partial payments and foreign currencies
- Make corrections by Unapplying customer ledger entries
- Reverse journal postings
- Understand and work with payment discounts
- Understand and work with payment tolerances
- Understand and work with reminders and finance charge memos
Chapter 6: Payables Management
Lessons
- Vendor Card and Payables
- Payment Journal Overview
- Apply Vendor Entries Window Overview
- Post Manual Payables Checks
- Suggest Vendor Payments Overview
- Create Payments Using Suggest Vendor Payments
- Demonstration - Use Vendor Priority and Available Amounts
- Print and Post Payables Checks
- Demonstration - Print Computer Checks
- Void Unposted Checks
- Apply Payments After Posting
- Unapply Vendor Ledger Entries
- Reversal of Journal Postings
- Reverse a Posted Journal Entry
- Set up Payment Discounts
- Process Payment Discounts
- Demonstration - Suggest Payment Lines Without a Discount
- Demonstration - Adjust Payment Discounts
- Set up Payment Tolerance
- Demonstration - Set up Payment Tolerance
- Process Payment Tolerance
- Demonstration - Discount Taken Past the Discount Date
- Demonstration - Adjust the Payment Amount to Reflect Discount
- Analyze Payables
Lab
- Lab - Enter a Manual Check
- Lab - Suggest, Print, and Post a Vendor Payment
- Lab - Void and Reprint a Check
- Lab - Apply a Credit Memo After Posting
- Lab - Unapply a Payment
- Lab - Reverse a Posted Journal Entry
- Lab - Adjust an Invoice to Include Payment Discounts
- Lab - Adjust the Payment Discount Amount
The goal of this chapter is to enable students to:
- Use payment journals, both manually and with the Suggest Vendor Payments feature
- Work with partial payments
- Understand payment discounts
- Understand how to void checks, posted and not posted
- Unapply vendor ledger entries
- Reverse journal postings
Chapter 7: Prepayments
Lessons
- Prepayments Set-up Overview
- Set up Prepayment General Ledger Accounts
- Set up Number Series for Prepayment Documents
- Set up Prepayment Percentages for Customers and Vendors
- Set up Check Prepayment When Posting
- Prepayments Processing Flows
- Prepayment Sales and Purchase Orders Overview
- Process Prepayment Sales and Purchase Orders
- Process Prepayment Sales and Purchase Invoices
- Correct Prepayments
Lab
- Lab - Set up Prepayments for Sales
- Lab - Create a Prepayment Sales Order
- Lab - Invoice a Prepayment Sales Order
- Set up prepayments in the General Ledger
- Process prepayments, including the following:
- Create an order requiring prepayment
- Create a prepayment invoice
- Review the corrections that can be made to prepayments
Chapter 8: VAT and Intrastat
Lessons
- Display VAT Amounts in Sales and Purchase Documents
- Adjust VAT Amounts in Sales and Purchase Documents and Journals
- Demonstration - Adjust a VAT Amount in a Purchase Document
- Demonstration - Adjust a VAT Amount in a General Journal
- Import VAT
- Demonstration - Set up and Post Import VAT
- VAT Correction
- VAT Statements
- Demonstration - Define, Preview, and Print a VAT Statement
- VAT Settlement
- Intrastat Reporting
- Set up Intrastat
- Report Intrastat
Lab
- Lab - Adjust a VAT Amount in a Sales Document
- Lab - Adjust a VAT Amount in a Purchase Journal
- Lab - Define and Preview a VAT Statement
The goal of this chapter is to enable students to:
- Use VAT Posting Setup
- Set up VAT posting groups
- Do manual VAT calculations in journals
- Show VAT calculations on sales and purchase documents
- Record/Post import VAT
- Demonstrate VAT corrections
- Understand VAT reporting
- Demonstrate VAT settlement
- Process unrealized VAT
- Adjust VAT for payment discounts
- Understand Intrastat reporting
Chapter 9: Multicurrency
Lessons
- Currency Card and Currency Exchange Rates
- Demonstration - Setting Payment Tolerance
- Set Up Multicurrency for Customers, Vendors, and Bank Accounts
- Demonstration - Process a Purchase Invoice
- Process Cash Receipts
- Demonstration - Process a Cash Receipt Journal
- Demonstration - Print and Post Checks
- Convert Journal Entries to Local Currency
- Demonstration - Use the Insert Conversion LCY Rounding Lines Function
- Use the Adjust Exchange Rates Batch Job
- Demonstration - Adjust Currency Exchange Rate
- Additional Reporting Currency
- Consolidations with Multiple Currencies
Lab
- Lab - Process a Sales Invoice
- Lab - Post Expenses in Foreign Currency
- Lab - Update the USD:GBP Exchange Rate
- Lab - Add an Additional Reporting Currency
- Lab - Adjust the ACY Exchange Rate
The goal of this chapter is to enable students to:
- Understand and use currency exchange rates
- Understand and use additional reporting currencies
Chapter 10: Year End Closing Processes
Lessons
- Closing a Fiscal Year
- Demonstration - Prior-Year Entry Confirmation
- Transferring Income Statement Account Balances
- Demonstration - Run the Close Income Statement Batch Job
- Demonstration - Review Entries and Post the General Journal
Lab
- Lab - Post an Entry into a Closed Fiscal Year
The goal of this chapter is to enable students to:
- Perform standard end of year financial closing operations